Rental Property Investor · Washington, DC · Member since 2015 · 88 posts · 45 votes
I'm looking for a sample scope of work for a 20 unit multi-family apartment. I'm having a general contractor perform the work and this will be my first apartment renovation. Any help would be great! Thanks in advance!
Developer · Houston, TX · Member since 2015 · 1k+ posts · 1k+ votes
8y
I think you're going about it wrong. You should be asking your GC for a sample scope of work and talking to his references. No point in providing him a scope of work you found online and him not being able to do it.
Developer · Houston, TX · Member since 2015 · 1k+ posts · 1k+ votes
8y
I think you're going about it wrong. You should be asking your GC for a sample scope of work and talking to his references. No point in providing him a scope of work you found online and him not being able to do it.
Rental Property Investor · USA / NZ · Member since 2016 · 1k+ posts · 812 votes
8y
@Brandon S., im also not clear on what you are after.
A scope of work is a "what works going to be done on the property"
without walking the property and seeing what it need it is not possible to provide it.
If you never seen a scope of work then juts imagine a list of work that needs to be done with detailed description and itemized. with price attached to the items. Or all inclusive price.
Investor · Houston, TX · Member since 2015 · 233 posts · 188 votes
8y
I would also add that you should look at what the market (nearby competitors) is doing so that you know not to under/over improve. Some upgrades/ amenities work great in some markets but they might be a waste in others.
Rental Property Investor · Glen Rock, NJ · Member since 2015 · 3k+ posts · 2k+ votes
8y
@Brandon S. Instead of giving something to a contractor, have several contractors come to the property and ask for their SOW. This will allow you to find some missing pieces if any in each of their SOW's.
Also, as @Juan Vargas pointed out, don't overdo it! Stick to what's appropriate for the neighborhood.
Rental Property Investor · Charlottesville, VA · Member since 2012 · 1k+ posts · 726 votes
8y
@Brandon S. does the apartment complex need repairs? Did you do an inspection? If so your SOW should include all of those repairs.
A contractor can quote you on those repairs.
Don't confuse that with a value-add improvement to apartments.
What I hear @Michael Le saying to you is hire a contractor that is familiar with how to make improvements to an apartment to maximize rent. That is something else entirely.
That may work in Texas where that is a way of life but in most of the rest of the country, the asset manager actually has to do some work and tell the contractor what improvements to make.
If you're new to the game, I recommend you read everything you can find by Dave Lindahl and Ken Mcelroy.
And it also depends heavily on the property you are working on.
But here are the basics.
First, fix up the exterior. Landscaping, painting, curb appeal, signage. Same as you would do if you were flipping a house actually. Have you flipped a house before? Again, sorry to go against conventional wisdom but if you have not, flip a few houses before you try to turn around a 20 unit apartment.
Second, do some interiors (how many depends on your strategy). What is in your sow? Guess what, it's just like flipping a house except repeated multiple times. Paint, flooring, kitchens,baths, light fixtures. Keep costs as low as possible.
Sandown, NH · Member since 2014 · 110 posts · 44 votes
8y
I wouldn't recommend having each GC who bids give you their own SOW. How can you compare apples to apples that way? If you know what you need done, prepare the SOW yourself, invite them for a visual walk-through, then have each GC bid based on that. Some may have additional ideas for you and that's fine, but you should give them the baseline.